The recovering economy could see the return of skills shortages and competition for talent as new opportunities emerge to lure frustrated employees away.
In a recent article for Training Zone, Lucy Beaumont of Talent Q looked at the challenges employers face from “ghost turnover” - demotivated employees who may be itching to jump ship now the economy is improving.
This article highlights the key points of her argument and suggests some strategies accountants can adopt to ensure their employees are fully engaged at work.
The silent menace
Economic downturns tend to depress the movement of people between jobs, with many forced to remain in unfulfilling and unrewarding roles because there are no alternatives. Within the recruitment industry this is known as ‘ghost turnover’.
New job opportunities are beginning to appear as the economy recovers, so employers are going to have to work hard to ensure they recruit and retain the right staff, and to make those who remain feel valued and engaged.
Beaumont’s recipe for successful talent management is to “make it personal”. First, recognise that your organisation is made up of individuals with different backgrounds, different aspirations and very different motivations...